Other key measures include bringing schools, colleges and universities together with employers to make sure people have the right skills and training, as well as creating thousands of apprenticeships and trainee places.

The deal has been won by the county's Local Enterprise Partnership and local authorities.

County council leader, Philip Atkins, said: "Staffordshire has long been a hotbed of innovation and industry - dating from Josiah Wedgwood to JCB and more recently Jaguar Land Rover.

"Just as at the dawn of the industrial revolution, we have the natural resources, transport links, and innovators to once again become a true powerhouse of industry, manufacturing and the production of advanced materials.

"But despite many successes in recent years we have also been held back by stagnation.

"This ground-breaking deal will unlock our potential."

The result will be more, better paid jobs for Staffordshire people, more, better training for young people or the unemployed, and more, support and opportunities for business to invest."